Where are the European Googles? (Mazzucato, TED, 2013)

Smart City as a Customer

A great TED talk and a highly interesting position on the role of governments!

Mazzucato is asking, why all the innovative new economy type companies come out of the USA. “Where are the European Googles?” and “What is the secret behind the Silicon Valley growth model? On the one hand side there are different market making mechanisms like a dynamic venture capital sector and different commercialization policies that allow companies to bring their products to market more easily. However, the crucial point is the funding of innovative technology by Government. Mazzucato uses the examples of the iPhone where all the innovative technologies that make the iPhone a cool device were funded by Government: the internet (funded by DARPA, Government of Defense), GPS (funded by military Navistar Program), the touchscreen display (funded by CIA and NSF), SIRI (funded by DARPA). Therfore the Government’s and public sector’s reputation of being a boring…

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